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RIVER has experienced a remarkable surge and hit a new all-time high within 24 hours, definitely catching everyone's attention. But don't be fooled by the surface prosperity—technical indicators are flashing red. The RSI has entered the overbought zone, and the MACD double lines are showing signs of a potential death cross, which usually indicates that the upward momentum is gradually weakening.
Market sentiment is a bit complicated. On one side, there's anxiety over missing out on the rally and regret over being left behind; on the other side, there's fear of being caught in a short squeeze and pressure from changing funding rates. Many traders have already tasted losses in this wave, questioning whether there is a manipulator behind the scenes, or even suspecting that this sharp rise is just a "last gasp" trap to lure more buyers.
To put it simply, the risk of chasing RIVER now is too high. A smarter approach is to wait patiently, and consider buying only if the price retraces to around the support line at 22.141, or alternatively, look for short-selling opportunities. Blindly following the price up is never a good idea. The current price around 26.3 faces short-term resistance, with a retracement potential of about 13%, which is worth monitoring.